RushCard says it will compensate card holders for losses during weeks-long outage

RushCard, the pre-paid debit card company owned by hip-hop mogul Russell Simmons, said yesterday that it would compensate the tens of thousands of customers whose cards were inaccessible during a two-week-long outage. The issue first began on October 12th when the company tried to switch to a payment system with MasterCard and ran into a technical malfunction. RushCard executives say the issue was resolved last week, but some users may still be unable to withdraw cash or use their card to pay bills.

The company previously said it would waive fees, like maintenance and transaction fees and ATM charges, for four months starting in November, but this new compensation effort goes one step further. Simmons said he has been compensating…